Published on 3/5/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.83 million five-year market plus notes linked to S&P 500
By Susanna Moon
Chicago, March 5 – HSBC USA Inc. priced $5.83 million of 0% market plus notes due March 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 60% knock-out level, the payout at maturity will be par plus the greater of 123.15% of the index return and the contingent minimum return of 0%.
Otherwise, the payout will be par plus the index return, with full exposure to any losses.
HSBC Securities (USA) Inc. is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as the placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | S&P 500 index
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Amount: | $5.83 million
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Maturity: | March 4, 2024
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If index gains or falls by up to 40%, par plus 123.15% of return, floor of par; otherwise, 1% loss per 1% decline
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Initial level: | 2,803.69
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Knock-out level: | 60% of initial level
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Pricing date: | March 1
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Settlement date: | March 6
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Agent: | HSBC Securities (USA) Inc.
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 3%
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Cusip: | 40435UJE5
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